Change in international business circumstances

Globalization

Liberalization of trade and investment, inauguration of the World Trade Organization (WTO), spread of regional and bilateral free trade agreements (FTA), penetration of global standards, economic advancement in developing countries, China's rise and admission to the WTO, the age of mega-competition

IT revolution

Diffusion of the internet, spread of high-speed broadband communication networks, restructuring of social and business systems

Wave of technological innovation

Advances in biotechnology, genomes, nano-technology, etc.

Global environmental issues

Movements for the preservation of the global environment drawn by The Earth Summit and The Kyoto Protocol, reduction of emissions of greenhouse gases, spreading efforts to gain ISO14001 certification, etc.